Starting today (14 September), there will be a single entity guiding fintech developments in Ireland with the launch of a new group, the Fintech and Payments Association of Ireland.

The Fintech and Payments Association of Ireland (FPAI), launched today by the Minister of State for International Financial Services Simon Harris, will act as a trade association for all stakeholders who are involved in financial technology and payments in Ireland.

Open to all fintech and payments companies from start-up level to fully-fledged multinationals, the first board will contain some of Ireland’s largest players in the sector, including its chairman Colm Lyon, formerly of Realex Payments and now Pay with Fire; Anna Scally of KPMG; Morgan Lynch of Senddr and Colm Rafferty of Maples and Calder.

In its announcement, the FPAI said it will also be looking to encourage software and app developers as well as established institutions involved in the financial sector such as banks, legal firms and governmental departments.

The first event scheduled on its calendar is its networking event on 15 October, which will be held at the Citi campus in North Wall Quay, Dublin.

Showing of ambition

Speaking at its launch, Minister Harris said: “Today’s launch is an important step forward for this increasingly influential sector. It is a strong signal to the international fintech community of Ireland’s ambition in this area.

“It is equally important as a statement of intent by private sector stakeholders to support the implementation of priority IFS2020 actions in a coordinated, informed and pragmatic manner.”

Adding his thoughts, FPAI chairman Colm Lyon said: “This association has come about as numerous people across this fintech and payments industry have realised that we have a superb competence and experience in the sector.

“This can scale even further, create more jobs, build more businesses and bring innovation to reality. Having a strong industry association will help to accelerate this vision.”